“The retail division of Reliance Industries has tremendous development prospects, including employing 150 to 200 senior executives at the vice president level and above.” “They are recruited from competitors and global chains,” noted the manager of an executive search firm.
Reliance Industries – The Giant World of Opportunity
Reliance is the largest private sector employer in India, employing around 2,30,000 people across many sectors. Despite an 18.3% decline in sales to Rs 5.39 lakh crore, RIL recorded a 34.8% gain in net profit to Rs 53,739 crore for FY21. COVID-19, RIL has added over 75,000 jobs to the Indian economy and employed over 50,000 new staff in the 2020-21 financial year. RIL Retail currently claims to be one of the largest employers in India, with around 361,000 people in total.
Brands include Reliance Smart, Reliance Trends, Reliance Digital, Ajio.com and JioMart, and it has online and offline stores.
RBL has invested in native Indian designer brands like Manish Malhotra and Anamika Khanna over the past five years, as well as partnerships with foreign luxury and fashion companies.
Armani Exchange, Bally, Bottega Veneta, Brooks Brothers, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Ermenegildo Zegna, G-Star Raw, Gaz, Giorgio Armani, Hamleys, Hugo Boss, Hunkemoller, Jimmy Choo, Kate Spade New York, Manish Malhotra, Michael Kors, Mothercare and Muji are among its current brand partnerships.
“The magic formula for RBL’s success is getting to know those 50 million customers who have disposable income, travel the world and want to try new things,” according to company sources.
Let’s take a look at the company’s recent mergers and collaborations.
1. RBL announced a strategic collaboration with Pret A Manger, a global fresh produce and organic coffee chain, to launch and grow the brand in India. RBL’s long-term master franchise agreement will see the culinary chain expand across the country, starting with prime locations and travel hubs.
2. The Retail Ventures has formed various alliances in recent months. Reliance Retail Limited has formed a long term collaboration with Gap Inc. to introduce the famous American clothing brand Gap in India. Reliance Retail has become Gap’s official retailer across all channels in India. Gap’s latest fashion products will be introduced to Indian customers through a mix of exclusive brand stores, multi-brand store expressions and Reliance Retail’s e-commerce platforms.
3. Reliance Retail purchased the franchise rights for Luxottica Group’s multi-brand eyewear outlets, Sunglass Hut, from DLF Brands earlier this year. Reliance Retail purchased Sunglass Hut’s network of approximately 85 outlets as part of this agreement.
The probable reasons for so many partnerships and transactions
These strategies take effect when the conglomerate, led by Mukesh Ambani, begins succession planning. Son Akash Ambani took control of telecommunications company Reliance Jio in June. Isha Ambani, the daughter, is expected to take over the retail branch.
The job plans come as the retail sector has partnered with several global brands, launched new outlets and aims to build many more in the coming months. According to the company’s latest earnings report, Reliance Retail added more than 17,000 jobs during the quarter for a total of 379,000.
1. According to recruiters, the retail unit of Reliance Industries Ltd is looking for up to 200 senior executives, VP level and above, with annual salaries of 1 crore or more, as well as thousands of other junior and middle managers.
2. The group’s retail holding business, Reliance Retail Ventures Ltd, is also trying to fill 60,000 junior to mid-level positions over the next three quarters, many of which will be in its outlets.
How can the hiring hierarchy work?
“The company is considering various stock option ideas to recruit senior staff, but no structure has been determined,” noted the head of the recruitment agency.
According to a junior to mid-level executive recruiter at Reliance, the company increased employment at the store level, especially in northern India, from the June quarter. Reliance Retail added 720 outlets in the third quarter, bringing the total to 15,916. Currently, the hiring they are doing is on a temporary or staffing basis. As a result, the majority of jobs have been filled in northern India, including some in Madhya Pradesh. In addition, considerable recruitment has occurred in areas around Delhi, Chandigarh and Rajasthan.
Salaries for newly hired junior employees will be between 25,000 and 30,000 per month.
Meanwhile, Reliance Digital, an electronics retailer, plans to open another 40 stores in the coming months. Since April, the company has added 26 locations, which will further contribute to the recruiting industry.
The Bottom Line – The juggernaut is expected to create jobs and empower the nation
Reliance Retail has rebranded former Big Bazaar stores as “Smart Bazaar,” and hundreds of those stores will welcome consumers across the country in the coming weeks, so these new acquisitions, mergers, and partnerships will work as a engine for the recruiting industry as well.